Today's expected CPI data from the UK and Europe.

Let's take a quick look at Wednesday's CPI data from Europe. Let's have a little bit of a change, I know America leads in representation of our portfolios, but personally and in ETF form I invest in the UK.

UK inflation fell by more than expected in June - to 7.9% from 8.7% in May. That's a bigger drop than expected, with analysts predicting a figure of 8.2% this month.

The decline is due to falling food and fuel prices. The 7.9% figure is the lowest of the year, having started the year at 10.1%. Prime Minister Rishi Sunak has pledged to halve inflation to around 5% by the end of the year.

The Prime Minister said: "It (is) all good news because it reduces the pressure on the Bank of England to raise interest rates again next month by just 0.25 points".

Chancellor of the Exchequer Jeremy hunt has just issued this statement and said he will stick to the plan set out by the Treasury to halve inflation by the end of the year: 'Inflation is falling and is at its lowest level since last March, but we are not complacent and we know that high prices are still a big problem for families and businesses. "The best and only way we can ease this pressure and get our economy growing again is to stick to our plan to halve inflation this year."

Inflation in the Eurozone is at 5.5%, and the estimate was the same, so I didn't see any other news. Previous inflation was at 6.1%. It is widely expected that the European Central Bank will raise interest rates once more at its meeting next week, but there is still debate about how far the central bank will go with tightening after that.

"For July, it's a necessity," board member Klaas Knot, a known hawk, said in an interview on Tuesday regarding a rate hike, "for anything after July it would be at most a possibility, but by no means a certainty."

Well, I personally invest in the FTSE 100 (an index made up of the 100 largest UK companies). I'm happy with it, I have the average at a lower price than current and as inflation slowly cools I believe it could see new highs here, it's now about 40 points away. I take this as a bit of diversification away from the US. There are plenty of other options but I like the UK, even though history can't interfere with this, for me it has always been and will always be a strong kingdom that has relevance in the markets.

And how do you feel about the UK, do you invest in it or is it not interesting to you? 😊